Hotel Online  Special Report

 
Cincinnati Office of Molinaro Koger
Sells Holiday Inn Cincinnati North

 
Cincinnati, Ohio— February 8, 2006 — Molinaro Koger announced today that they acted as advisor to Sharonville Hotel Corporation in the sale of the Cincinnati Holiday Inn North to Hauck Hospitality, LLC, for an undisclosed price. Terry O’Brien, Managing Director of Molinaro Koger’s Cincinnati office, structured the transaction for Sharonville Hotel Corp. The hotel will remain a Holiday Inn and Columbus Hospitality will manage the hotel. 

“This was a great opportunity to acquire a well-located, quality asset at well below replacement cost,” commented Mr. O’Brien, who marketed the property and assisted the seller in identifying a purchaser capable of closing rapidly. 

The 12-story, 275-room hotel is located on the I-275 outer belt near Sharonville, approximately 12 miles north of downtown Cincinnati. 

The hotel’s operating numbers are likely to benefit from the recent completion of Cincinnati’s new convention center, according to Mr. O’Brien who believes the local hotel market is poised for significant growth in coming months.

In addition to retaining the Holiday Inn brand for the property, the new owners plan on investing in substantial renovations to the hotel over the course of the next year. 

For further information about this transaction and current listings, please contact Molinaro Koger at 703.760.9600 or via www.mkhotels.com.
.

.
About Molinaro Koger

Molinaro Koger is an international hotel real estate advisory firm. The company structures hotel transactions of boutique through luxury market segment assets throughout the world. MK is headquartered in metro-Washington, DC, and has offices in Beijing, London, Atlanta, Chicago, Cincinnati, Dallas, Los Angeles, Phoenix, San Francisco and Shanghai. During the past decade the firm has captured the industry’s leading hotel transaction awards including Highest Volume, Largest Transaction and Salesman of the Year.

Joseph Molinaro founded the firm in 1959, and since then Molinaro Koger has successfully marketed hotel real estate, sponsored limited partnerships, and arranged financing for purchasers. Given the cyclical nature of real estate, the firm has weathered an array of highs and lows during the course of its 47-year history. Through this time, the company has grown and assisted clients in achieving their investment goals.

“With each lodging real estate cycle we gather strength, expertise and contacts enabling us to better serve the best interests of our clients, regardless of economic cycles,” says President Robert Koger. “The results we achieve are directly attributable to the commitment and expertise of our professional staff.”

Molinaro Koger can be accessed online at www.mkhotels.com.

###
Contact:

Molinaro Koger
1676 International Drive
Suite 575
McLean, VA 22102
703.760.9600
www.mkhotels.com

Sharon Lemon
slemon@mkhotels.com
651.324.8469


 
Also See: Molinaro Koger Announces Record $2.2 Billion in Hotel Transactions in 2005 / January 2006
Sale of Chicago’s Omni Ambassador East Hotel Arranged by Molinaro Koger / December 2005
Hotel Monticello of Georgetown, A European-style Luxury, Boutique Hotel, Sold by Molinaro Koger / June 2005
Molinaro Koger Structures Sale of Sierra Suites® Portfolio / May 2005
Molinaro Koger Structures Sale of Hilton Deerfield Beach Florida / April 2005
Molinaro Koger Structures Sale of Two Residence Inns Portland, Oregon / February 2005
Molinaro Koger Structures Sale of Lenox Suites Hotel Chicago / February 2005
Molinaro Koger Structures Sale of Hilton College Station & Conference Center / January 2005
The Outstanding Year that Was: MK Records $1.3 Billion in Hotel Real Estate Transactions in 2004 / January 2005
Molinaro Koger Structures Sale of Marriott Suites Hotel Bethesda / December 2004
Molinaro Koger Arranges Sale of the Renaissance Jamaica Grande Beach Resort / December 2004
Hospitality Financier Edward Blum Joins Molinaro Koger / December 2004
FelCor Sells North Dallas Crowne Plaza Hotel, Advised by Molinaro Koger / October 2004
Bill Murney Joins Molinaro Koger, Opens Firm’s Phoenix Office as Managing Director / October 2004
Molinaro Koger Advises FelCor on the Sale of the Harvey Hotel DFW / October 2004
Molinaro Koger Structures Sale of Hyatt Hotel Orange County / October 2004
Molinaro Koger Structures Sale of Renaissance Hotel Ft. Lauderdale / September 2004
Molinaro Koger Structures Sale of Radission Hotel Mt. Laurel on behalf of Boykin Lodging Company / September 2004
Molinaro Koger Advises William Street Hotel Associates LLC on Sale of Doubletree Hotel Chicago O’Hare Airport / August 2004
Molinaro Koger Advises on the Sale of the Beaver Creek Lodge / August 2004
Molinaro Koger Arranges Sale of Crystal City Marriott Hotel / July 2004
Molinaro Koger Facilitates Sale of Sheraton Bucks County Hotel to Ashford Hospitality Trust / July 2004
Molinaro Koger Structures Sale of Sheraton Hotel Washington, DC / June 2004
Molinaro Koger Advises in the Sale of Miami Beach Ritz Plaza Hotel — Kimpton to Rebrand and Manage / June 2004
Molinaro Koger Structures Sale of Hilton Hotel Pasadena, California / May 2004
Molinaro Koger Closes Holiday Inn East Columbus on Behalf of B.F. Saul Company / April 2004
Molinaro Koger Structures Sale of Radisson Hotel Charleston / April 2004
Molinaro Koger Closes 82 Transactions in 2003 / January 2004
Thompson Calhoun Fair and Molinaro Koger Brokers Sale of 15 - Hotel Portfolio / December 2003
Molinaro Koger Closes Sale of Renaissance Hotel St. Thomas to Palace Resorts of Cancun, Mexico / November 2003
Molinaro Koger Closes Four Full-Service Hotels / November 2003
Molinaro Koger Closes 46 Transactions Through Third Quarter 2003 / October 2003
Molinaro Koger Selected to Market 7-Property Holiday Inn Portfolio on Behalf of FelCor / May 2003
Simon Allison, Former Finance Director of Hospitality Europe BV, Named Vice President, Molinaro Koger / April 2003
Molinaro Koger Opens Atlanta Office / Oct 2002
Hotel Acquisitions Continue In Tight Market Molinaro Koger Announces 39 To Date Closings / Oct 2002
Molinaro Koger Opens Atlanta Office / Oct 2002


To search Hotel Online data base of News and Trends Go to Hotel.Online Search

Home | Welcome! | Hospitality News | Classifieds | Catalogs & Pricing | Viewpoint Forum | Ideas/Trends
Please contact Hotel.Online with your comments and suggestions.